In our information age, virtually every company generates huge amounts of data on a daily basis. In theory, we know that data can be collected, analyzed and crunched in real-time to deliver intelligence that companies can use to boost productivity, gain a competitive edge and expand their businesses. Many companies use smart, connected devices to do just that—increasing efficiency, boosting revenue and creating new business models. However, many more are not, Colin Masson, global industry director, manufacturing at Microsoft Business Solutions told CEOs gathered for a Chief Executive roundtable discussion held in partnership with Microsoft.

The Challenge At age 26, you left a lucrative and successful career at a fast growing enterprise-software company—sacrificing millions in stock options—to start your own company. You didn’t have a business plan, funding or even a concept. Instead, you had three partners who shared your enthusiasm for taking on an entrepreneurial venture during the heady days of the dot-com boom. Together, you decided to tackle personalization—or the task of using algorithms to ...